Best rewards credit cards

Compare 100+ rewards cards and get up to 250,000 bonus points. Updated and scored daily.

Our round-up of rewards credit card offers

Here are some of the top rewards cards this month, based on their Finder Scores:

Updated February 2025 by money editor Richard Whitten.

Best AMEX rewards credit card

American Express Platinum Card

  • 200,000 Bonus Points and Yearly $450 Travel Credit
  • $1,450 Annual fee
  • N/A Purchase rate
Ends on 11 March 2025

Pros & cons

  • 200,000 Membership Rewards Bonus Points
  • $450 Platinum Travel Credit each year
  • Airport lounge access at over 1,400 locations with the American Express Global Lounge Collection
  • Up to $400 back per calendar year at participating restaurants with American Express Global Dining Credit
  • High $1,450 annual fee
  • 3% foreign currency conversion fee
  • American Express is not as widely accepted as Visa or Mastercard

Why we like it

The American Express Platinum Card comes with a stack of Membership Rewards Points, travel credit, airport lounge access and more. But with a high annual fee you'll need to make sure you're getting your money's worth out of the card.
This card has a Finder Score of 9.9 in the rewards category.

Best Big 4 Bank rewards card

ANZ Rewards Black Credit Card

  • 180,000 Bonus Points & $150 back
  • $375 Annual fee
  • 20.99% Purchase rate

Pros & cons

  • 180,000 bonus ANZ Reward Points
  • $150 back on your new card
  • Up to 2 ANZ Reward Points per $1 spent
  • Complimentary extras including travel insurance and a personal concierge
  • Finder Score of 9.57 in the rewards category
  • Charges a relatively high annual fee of $375 p.a.
  • 3% foreign transaction fee
  • Additional cardholder fee of $65 per card

Why we like it

If you're looking to earn a stack of rewards points and get other travel perks, the ANZ Rewards Black Credit Card is hard to beat. It offers 180,000 bonus ANZ Reward Points if you meet the spend requirements. These points are worth around $800 in gift cards but you could also redeem them for enough Velocity Points to get a return business class flight from Brisbane to Perth.
It has a decent earn rate too, plus complimentary travel insurance. The $375 annual fee is on the higher side, but worth it if you take full advantage of all the card offers, which includes a personal concierge that can help you with travel planning, restaurant or hotel bookings.

Best rewards credit card

St.George Amplify Signature

  • 150,000 Bonus Points & First-Year Annual Fee Discount
  • $199 Annual fee
  • 20.99% Purchase rate
Ends on 30 April 2025

Pros & cons

  • 150,000 bonus Amplify Points
  • Discounted $199 first-year annual fee
  • Shopping cashbacks through ShopBack
  • 2 complimentary airport lounge passes per year
  • Complimentary overseas travel insurance for up to 6 months
  • $295 annual fee after the first year
  • 3% foreign transaction fee

Why we like it

The St.George Amplify Signature has a generous bonus points offer and a low first-year annual fee. You can convert Amplify Points to Velocity Points, which gives you more options if you want frequent flyer points. It also offers complimentary travel insurance and some nice shopping cashbacks.
This card has a Finder Score of 9.22 in the rewards category.

Rewards score tiers - what you need to know

  • 9+ Excellent - These cards offer the best ongoing earn rates and sign up offers, coupled with attractive annual fees and perks.
  • 7+ Great - Reasonable rewards cards but may offer slightly lower ongoing or signup offers.
  • 5+ Satisfactory - These cards may offer lower ongoing and sign up points, and fewer perks, but probably have lower annual fees.
  • Less than 5 – Basic - Entry level rewards cards, that offer consumers basic sign up offers and ongoing earn rates.

What is a rewards credit card?

Rewards credit cards let you earn points for every dollar you spend. Some cards also offer thousands of bonus points if you spend a certain amount after opening the card.

You can get rewards points with a reward program like CommBank Awards, ANZ Rewards or AMEX Membership Rewards.

How can I use these points?

You can redeem rewards points in different ways:

  • Cashbacks and gift cards
  • Hotels, flights and accommodation
  • Retail goods like cosmetics, electronics and homewares
  • Frequent flyer points (most rewards program points convert to Velocity or Qantas Points, usually at a rate of 2:1 or 3:1).

Some cards offer cashback instead of points. Some cards offer both.

You can redeem the points via your bank or reward program's store (for example, the NAB Rewards Store).

Do you need a rewards credit card?

Rewards credit cards are suited to bigger spenders, frequent flyers and people who shop a lot. You get rewarded because you're spending money. These cards are not budget or entry level credit cards because the rates and annual fees are higher.

Pros

  • Points for spending. The most obvious perk of these cards is that you earn rewards of your choice, for money you were going to spend anyway. Why not get a reward for spending?
  • Bonus points offers. New cards usually offer a bunch of bonus points when you spend a certain amount in the first few months. These points offers should have a dollar value that's greater than the cost of the card's annual fee.
  • Perks. Rewards credit cards often come with extra perks like complementary travel insurance, purchase insurance, concierge services and lifestyle and entertainment offers.

Cons

  • Higher rates. To pay for the points and perks, these cards typically charge higher ongoing interest rates than other cards. But if you pay off your balance in full each month the interest rate doesn't matter.
  • Annual fee. Rewards cards come with an annual fee that can cost several hundred dollars.
  • Temptation to overspend. The promise of rewards points can lead you to spend more than you usually would.
  • Rewards limitations. Some rewards cards cap how many points you can earn.

Reward credit cards are popular in Australia, with Finder research showing 29% of Australians got their last credit card for reward points.

Types of credit card rewards in Australia

Credit card rewards can be separated into 3 main categories: rewards points, frequent flyer, and cashback cards.

Rewards points programs

Many rewards credit cards in Australia earn points that you can redeem for different types of rewards, including gift cards, retail items, credit on your account, travel or point transfers to other loyalty programs. These flexible rewards programs include:

Frequent flyer rewards

If you're a member of a frequent flyer program, you can use a credit card to earn more points or miles in 2 ways:

1. Frequent flyer points per $1 spent

Credit cards that directly partner with a frequent flyer program let you earn frequent flyer points on your spending. Points are automatically added to your frequent flyer account once a month (or at regular intervals).

In Australia, the main options are Qantas Frequent Flyer and Velocity Frequent Flyer credit cards.

2. Reward point transfers to frequent flyer programs

A lot of rewards credit card let you transfer points to different frequent flyer programs. This gives you more flexibility because you're not locked into earning points for one airline loyalty program.

It's also a way to earn points with programs that don't have co-branded cards in Australia, including Singapore Airlines KrisFlyer, Cathay Pacific Asia Miles and Emirates Skywards.

💡 Tip: You can also get a rewards credit card that lets you redeem points for flights, accommodation and other travel experiences without needing to transfer them to a frequent flyer program.

Cashback credit cards

These credit cards give you a way to get cash rewards for your spending, either in the form of credit back on your account or vouchers you can spend.

Some cashback credit cards give you a set percentage of your regular spending as cashback on your account (capped to a max amount), while other cards have introductory offers that provide a one-time account credit or voucher when you meet the spend requirements.

Richard Whitten's headshot
Our expert says: Choose rewards that work for you

"Before you even compare credit cards, why not look at the rewards programs out there. Work out what you actually want. If you specifically want Qantas Points you might be better off with a card that earns Qantas Points directly. But if you're interest in gift cards and retail items, look at the rewards stores for different reward programs and see what's on offer. "

Money Editor

How to compare rewards credit cards

Here's what you need to look at when comparing rewards credit cards:

  1. How can I earn points? How many points will you earn per dollar spent? A bonus points offer can give you a huge amount of value when you get a new card. Some cards have caps on how many points you can earn.
  2. What's the value of the rewards? What is 1,000 points actually worth? Every rewards program is different. If you need 12,000 points to get a $50 gift card and your credit card has an earn rate of 1 point per $1 spent. You would need to spend $12,000 before you could redeem the $50 gift card.
  3. Are there any complimentary extras? Many cards offer sweet perks, like complimentary international travel insurance, airport lounge access, complimentary flights and travel credits, extended warranty cover and concierge services.
  4. What will the card cost me? The annual fee is the biggest reward card cost. Some rewards credit cards offer no annual fee for the first year or ongoing. The value of the rewards you redeem should be higher than the cost of the annual fee to make it worthwhile. Don't forget the card's interest rate either. You can avoid interest charges by paying your balance in full each statement period.

What are eligible purchases on a rewards card?
Most everyday spending is eligible to earn points, including groceries, petrol, retail items and travel. Transactions that don't usually earn points include cash advances, BPAY payments and spending with government bodies.

Points-to-dollars calculator 💵

How much do you need to spend to get rewards?

To give you an idea of the potential value of rewards, we've compared the amount of points you need to redeem a $100 gift card through major rewards programs that are linked to credit cards.

Rewards programPoints needed for $100 gift cardPopular card and ongoing annual feeSpend required for $100 gift card
American Express Membership Rewards20,000Amex Explorer: $3952 points per $1: $10,000
Flybuys20,000Coles Rewards Mastercard: $992 points per $1: $10,000
ANZ Rewards ProgramFrom 22,225ANZ Rewards Platinum: $1491.5 points per $1: $14,817
Suncorp Bank Rewards20,900Suncorp Clear Options Platinum: $1291.25 points per $1: $16,720
CommBank AwardsFrom 20,615CommBank Awards Card: $96 (charged as a monthly fee of $8)1 point per $1: $20,615
Citi Rewards Program20,900Citi Rewards Card: $1991 point per $1: $20,900
HSBC Rewards Plus24,000HSBC Platinum: $1491.5 points per $1: $16,000
Bendigo Bank Rewards37,040Bendigo Bank Platinum Rewards: $891.5 points per $1: $24,694

Fees, points and redemption values correct as of February 2025.

Based on this table, the minimum spend required for a $100 gift card (or equivalent) is $10,000 with American Express Membership Rewards or Flybuys if your credit card offers 2 points per $1 spent.

Jessica Prasida's headshot

"I change my rewards credit card every year to get the best value from bonus points offers. I redeem my bonus points for gift cards or flight rewards and it usually brings in about $500 worth of value. You just have to be vigilant with paying off your card, closing the account before incurring the next year's annual fee, and not churning too frequently because it could affect your credit score."

Travel Insurance Expert

2025 Finder Credit Card Awards for Rewards Points

Each year the Finder Credit Card Awards recognises Australia's top credit cards, with expert analysis of rates, fees and offers based on 12 months' worth of data. These cards might not currently have the most competitive deals for earning rewards points but you can use them as a benchmark against the latest offers.

Best Rewards Credit Card: ANZ Rewards Black Credit Card

Best Rewards Credit Card badge
ANZ Rewards Black Credit Card logo

ANZ's Rewards Black Credit Card took out the top spot in the rewards credit card category with its very compelling offer. The card's high earn rate (2 points per dollar spent), hefty 180,000 bonus points sign-up offer and other benefits made it a strong winner this year.

Highly commended

NAB Rewards Signature Card logo

NAB Rewards Signature Card

The NAB Rewards Signature Card received a highly commended placing in the reward category. It offers a stack of bonus points and a high earn rate when you spend with the card.

St.George card
Bank of Melbourne card
BankSA card

St.George/Bank of Melbourne/BankSA Amplify Signature Card

The Amplify Signature Card comes highly commended with a healthy amount of bonus points and a high earn rate. The discounted annual fee in the first year helps make this a compelling rewards card. St.George, Bank of Melbourne and BankSA all offer this card with identical features.

Frequently asked questions

Why you can trust Finder's credit card experts

helpPoints mad - Who doesn't love points? We do. Whether it's Qantas and Velocity, or one of 50+ other rewards programmes in Australia - we live track over 100 offers daily so you get more prizes.
freeRanked objectively - Whether you're a points ninja with dreams of running your own YouTube channel, or a total newbie wanting a taste of the perks life -we got you. Cards are ranked for popular features to show you a simple score out of 10.
independentMatch making is our jam - We're not owned by a bank, we don't have a call centre. Our only mission is to match you with the card of your dreams.
Aaron Christie-David, alongside his wife Bernadette, co-founded Atelier Wealth Mortgage Brokers in 2016. In this time, Aaron has earned recognition as an MPA Top 100 broker four times and garnered numerous industry accolades, including Brokerage of the Year (Australian Mortgage Awards), Customer Service Awards (MFAA), and NSW All Round Broker of the Year.

As a highly qualified and has a wealth of knowledge and experience in the finance industry, Aaron is also the author of The Happy Home Loan Handbook.

Aaron Christie-David's headshot
To make sure you get accurate and helpful information, this guide has been reviewed by Aaron Christie-David, a member of Finder's Editorial Review Board.
Richard Whitten's headshot
Money Editor

Richard Whitten is Finder’s Money Editor, with over seven years of experience in home loans, property and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Graduate Certificate in Communications from Deakin University. See full bio

Richard's expertise
Richard has written 585 Finder guides across topics including:
  • Home loans
  • Property
  • Personal finance
  • Money-saving tips
Amy Bradney-George's headshot
Co-written by

Journalist

Amy is an experienced journalist with over 16 years of experience, contributing to major publications like Money Magazine, The Sydney Morning Herald, and ABC News Australia. Specialising in personal finance, she frequently appeared in media outlets and on radio. Amy holds a Bachelor of Arts in Journalism and Drama from Griffith University and earned RG146 certifications in Tier 1 Generic Knowledge and Tier 2 General Advice Deposit Products, ensuring her expertise is grounded in current financial regulations. Amy was Finder's Senior Writer for Credit Cards from 2016 to 2024. See full bio

Amy's expertise
Amy has written 556 Finder guides across topics including:
  • Credit cards
  • Frequent flyer
  • Credit score
  • BNPL
  • Money management
  • Sustainability

Ask a question

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms Of Service and Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

108 Responses

    Default Gravatar
    SandyAugust 29, 2024

    I would like a card with points accumulated when i use to shop at groceries and points to put towards my trips when i fly?

      AvatarFinder
      AngusSeptember 16, 2024Finder

      Hi Sandy, If your goal is to earn points with grocery shopping, then a good approach is to get a credit card that earns airline points and is also partnered with a major supermarket – that way, you can earn points from paying with the card, and also convert your supermarket loyalty points into additional airline points. Qantas is partnered with Woolworths/Everyday Rewards, while Virgin/Velocity is partnered with Coles/Flybuys, so exploring cards that earn with either of those airlines could help you earn more points. Have fun exploring!

    Default Gravatar
    RonJanuary 7, 2018

    Can I use diners club rewards with Emirates?

      AvatarFinder
      RenchJanuary 7, 2018Finder

      Hi Ron,

      Thanks for your inquiry.

      Yes, the Diners Club Rewards program also allows you to transfer your reward points to 17 airline and travel loyalty programs, including Virgin Australia’s Velocity frequent flyer program, Emirates Skywards, Etihad Guest, and Hilton Honors.

      You can learn more about Diners Club Rewards program.

      Best regards,
      Rench

    Default Gravatar
    KymJuly 27, 2017

    I spend and pay off in full about 25K per month of normal spending on my Citi Signature card which since the 1st July 2017 have at best halved their reward points which I use for Qantas flights.
    What is the best card now for me to get the most points for my spend per month, ie who is dollar for dollar and uncapped

      AvatarFinder
      HaroldJuly 28, 2017Finder

      Hi Kym,

      Thank you for your inquiry.

      While we cannot recommend what is best for you, we can offer you general information. You can check the list of frequent flyer credit cards featured on our website to learn more.

      I hope this information has helped.

      Cheers,
      Harold